Recently in Mercado Libre Argentina, the option to make real estate purchases was added, allowing payment with Bitcoins; the information can be seen on the platform, which has more than 70 property offers through this method. The option is very clearly identified: Bitcoins are accepted; on the platform, you can see that there are houses, land, and apartments in the different offers in which transactions with Bitcoins are accepted. Among the places in Argentina where these negotiations are held are Buenos Aires, Córdoba, and Santa Fe.
Bitcoin in Mercado Libre
Likewise, Mercado Libre Argentina, to give impetus to this initiative, will be offering the necessary training for those real estate companies that wish to join this alternative of payments with cryptocurrencies. In this sense, Mercado Libre, through an official spokesperson, expressed the following: we are always attentive to the changes that occur in the market. Bitcoin offers multiple advantages to carry out operations in the real estate market, both for the buyer and the seller. In the real estate sector in Argentina, the use of cryptocurrencies as a means of payment is on the rise, especially when buying properties. These are agreements between the parties to accept cryptocurrencies as a means of payment; it is important to note that this alternative responds to a reality in the country where the use of cryptocurrencies has increased as a result of the inflationary processes through which their local currency passes and certain restrictions on the use or acquisition of US dollars.
Regarding the real estate market with cryptocurrencies, it is an agreement between the parties to accept the currency as payment in a project that is being developed or in units already completed. It is a private exchange agreement in which the seller and buyer agree with which cryptocurrency to do the valuation, establishing the price, and finally carrying out the purchase-sale operation.
One of the main reasons why Bitcoin has gained popularity in this area is its high value in the market (which is compatible with the prices of the real estate sector), its decentralized system, and above all that the times of said transactions, the which may be slower compared to other cryptocurrencies (they take approx. 10 minutes), do not affect the final purchase experience, which would be very different in the case of other items, such as goods or services for immediate consumption.
Many cryptocurrency and real estate owners are currently looking to invest their assets in and want to diversify their portfolio of assets; in this sense, the real estate sector and cryptocurrencies are a good option. More and more people, companies, and organizations are interested in accepting or exploring these alternatives, which is important for the end-user. It provides them with more options when making transactions or marketing their products/services, giving them a greater fluidity market.
Other real estate actors and legality
It is important to note that there is evidence of several real estate transactions in Argentina that are being carried out through cryptocurrencies, for example, in a publication of the newspaper Ámbito from Argentina (a newspaper specialized in economics), the CEO of Global Investments (Hernan Nucifora) indicated that in the town of Tigre, in Greater Buenos Aires, several real estate sales have been made using cryptocurrencies.
It is important to note that according to Argentine regulations, cryptocurrencies in that country are in a “gray” state since although there are definitions found between decrees and national resolutions that open the possibility of exercising a debate whether cryptocurrencies are “virtual currencies” or “digital currencies” are explicitly not prohibited, which is important in the legal sphere since a general rule of law is that what is not prohibited can not be punished, and according to this interpretation, what is not prohibited is allowed.
What do you think about this topic? Does it seem like a good idea to accept cryptocurrencies to carry out transactions in the free market or real estate in general?
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